OREANDA-NEWS. JSC "Polymetal", announced the acquisition of 100% of share capital of Polymetal ESOP Limited has been completed, the company's press service reported.

Polymetal ESOP Ltd.'s single asset is 5.5 million shares of Polymetal representing approximately 1.76% of the Company's share capital. These shares were granted by the controlling shareholder after the IPO, to fund one of the broadest-based employee stock option programs in the Russian metals and mining industry, involving more than 250 employees of the Company. Participants of the program received the right to purchase Polymetal's shares at a price of 1 Russian ruble (approximately US$0.04) per share in equal installments in February 2008, February 2009, and February 2010.

Polymetal views its employees as the Company's key asset and considers the stock option program to be an important element of its strategy.